Gasoline Stockpiles Rise to Year-High in Europe’s Oil-Hub

Gasoline stockpiles in independent
storage in Amsterdam-Rotterdam-Antwerp, Europe’s oil-trading
hub, rose to the highest level in more than a year, according to
PJK International BV.

Gasoline (ARASGSLN) inventories climbed 9.6 percent to 881,000 metric
tons in the week to today as supplies arrived from Germany,
France, Russia, Spain and the U.K., according to PJK, a
researcher in the Netherlands. That’s the most since March 24,
2011. Cargoes were sent to Algeria, Morocco and the U.S.

“Stocks are being built ahead of the driving season,”
Pieter Kulsen, founder of PJK, said by phone from Breda where
the company is based. “And ahead of cargo shipments to West
Africa and the Mediterranean where tenders have been awarded.”

Gasoil inventories, which also include diesel, decreased
4.2 percent to 2.62 million tons, the lowest in a month, the
data show. Cargoes were sent to the Mediterranean while imports
came from Finland, Russia and the U.S.

Jet fuel storage declined 5.5 percent to 411,000 tons even
as cargoes arrived from India, according to the data. That’s the
lowest level since Nov. 24.

Fuel oil stocks dropped 4.3 percent to 787,000 tons as a
very large crude carrier is loading, scheduled to sail for
Singapore on April 14, the data shows. Supplies arrived from
Brazil, Finland, France and Russia.

The following table shows the weekly inventory changes in
thousands of tons for gasoline, naphtha, fuel oil and jet fuel
in independent storage in Amsterdam-Rotterdam-Antwerp.